Monitoring Committee to oversee the Kerala State Electricity Board restructuring

Published on: 21 Mar, 2013
Published under: General Kerala News, Kerala Business News

21 March 2013
Thiruvananthapuram

The state government has set up a monitoring committee to oversee the progress of the central government-assisted financial restructuring programme for which the Kerala State Electricity Board has applied for.The seven-member committee, set up as per the stipulations of the Union government-aided scheme, is headed by chief secretary. A representative each of the three major lenders of KSEB, Reserve Bank of India, Central Electricity Authority and KSEB are the other members in the committee.

“The monitoring committee has been formed as per the procedures laid down by the Union power ministry for joining the turnaround plan. It doesn’t mean that KSEB has been selected for the scheme. A lot more procedures are to be completed,” said KSEB chairman M Sivasankar.

The central government will reimburse 25% of the money infused by the state government to the distribution utility and will provide other financial incentives proportionate to the performance improvement of the power utilities in the post-restructuring period.

Source– http://timesofindia.indiatimes.com/city/thiruvananthapuram/Monitoring-panel-set-up-to-oversee-Kerala-State-Electricity-Board-restructuring/articleshow/19100827.cms

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